CBI raids Vijay Mallya’s UB Group office in money laundering case

File photo. The CBI raids come days after Vijay Mallya and his associated firm received a jolt after a DRT in Bengaluru ruled in favour of State Bank of India-led consortium to recover Rs6,203.35 crore from the former Rajya Sabha MP. Photo: Hemant Mishra/Mint

Bengaluru: The Central Bureau of Investigation (CBI) on Monday conducted raids on the premises of former liquor baron Vijay Mallya-run UB Group in Bengaluru over a money laundering case against the company.

The raids were conducted by the central division of the CBI with help from the Bengaluru division, one official from the agency confirmed. The officials were looking into various accounts of the group transactions at UB Towers in upscale Vittal Mallya Road of the city.

“A CBI team visited the UB Group offices in Bangalore today and we are fully cooperating with them,” UB spokesperson said in a statement on Monday.

The CBI has been investigating a case against Mallya and his group companies over allegations of money laundering since early last year and has even secured a non-bailable warrant against the absconding businessman in a case related to money laundering and willful default of loans, Mint reported on 22 November.

The raids come days after Mallya and his associated firms received a jolt after a debt recovery tribunal (DRT) in Bengaluru ruled in favour of public sector lender State Bank of India-led consortium to recover Rs6,203.35 crore from the former Rajya Sabha Member of Parliament (MP).

Mallya flew to the UK in March last year as creditors closed in on him over unpaid and unserviced debts of his failed aviation venture Kingfisher Airlines Ltd (KFA) to the tune of over Rs9,000 crore.

A court in Mumbai had declared Mallya an offender in a money laundering case in June, following a petition by the Enforcement Directorate. The external affairs ministry had suspended Mallya’s passport in April last year, and has requested the UK government to deport him.

The UK declined to deport him, but stated that it would aid the Indian government with his extradition.